Whitsundays Market Update - 1st Half 2021
Hi, I'm Annette Harm from PRD Whitsundays with this Whitsunday weekly e-news.
I'm here at Unit 23 at the Beautiful Marina shores complex which Dylan Hart of our office has just listed.
As you can see over my shoulder here, this apartment has amazing marina views.
These updates are put together every six months by our research analysts team in Brisbane.
These aren't just some stats I pulled from somewhere, but reliable data gathered by highly regarded analysts.
Whitsunday's property market reflects the second half of 2020 sentiment as it captures sales to the end of December 2020.
We recorded a positive sentiment growth of 17% in the six months to the end of 2020 with a highly resilient and performing market despite COVID-19.
In comparison, Queensland's overall positive property sentiment declined by 5%, and the Australian market only improved by 4%.
The Whitsunday market continues to deliver positive property price growth for both houses and units. In Quarter four, we recorded a median house price of $451, 000 and median unit price of $ 285,000.
This is from 2019 to 2020 increase of 2.5percent for houses 7.5 percent for units between quarter four 2019 and Quarter four 2020 sales for homes increased not surprisingly by 57.4 percent. However, sales for units softened slightly to 6.7 percent.
The Whitsunday property market is heading towards a post-COVID-19 recovery and is a highly demanded regional area.
In the 4th Quarter - 2020, we saw median house rental prices increase by 6%.
This is in conjunction with the average days on the market declining by 25%.
In December, the Whitsundays recorded a vacancy rate of 0.4%. These are record lows and well below the REIQ healthy benchmark of 3%.
This means there's a highly resilient rental market here in the Whitsundays.
Even in the COVID-19 conditions that we're seeing, which means investors can be confident with investing here in the Whitsundays.
The link to this report is included below, or if you'd prefer, get in touch with one of our team, and we can send this report out to you.
Some great market insights to give you the confidence to buy.
Download a copy of our Whitsundays Market Update below
